EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still consolidating below the H4 Super Trend. On Thursday, the price may reach a new local high, but if the market fixes below the 3/8 level, the pair may resume moving downwards to reach the 1/8 one.
At the H1 chart, the pair is moving inside the “oversold zone”. During the day, the price may test the -1/8 level again. If the pair rebounds from it, the market may continue its decline. After the price breaks the -2/8 level, the lines at the chart will be redrawn.
USD CHF, “US Dollar vs Swiss Franc”
Super Trends are still influenced by “bullish cross”. In the nearest future, the pair may be corrected towards the 4/8 level and the daily Super Trend. If later the price rebounds from these levels, the market may start a new ascending movement to reach the 6/8 one.
At the H1 chart, the 5/8 level provided resistance. As a result, during the day the local correction may take place. The closest target for bears is at the 4/8 level. If later the price rebounds from this level, the market may resume moving upwards.
RoboForex Analytical Department